The 6 Tiers of Riches [Episode 4]

Finance and Money Matters

The 6 Tiers of Riches [Episode 4]

When you are rich, you have more than enough because you money seems to be producing more money for you. But being wealthy is beyond this. 

While being rich is about abundance, wealth is about sustainability. Riches translate as multiplied profitability, while wealth translates as durability. 

While a rich person may become poor again, a wealthy person will always be wealthy. Riches may be shared with as many people as possible, but wealth is passed down generations as legacy. 

What’s more, wealth expresses beyond the economic dimension.

Wealth is attained through deeper knowledge and understanding of how money works. Hence, when they stumble at some point, they are able to get back. History is replete with a lot of examples of such individuals. Think about trump. One profound thing about them is that despite temporal down times; their spending habits are not affected. People of their class value knowledge more than money. 

Below are some two of the signs of true wealth: 

  1. You have multiple sustainable means of income. Now, sustainable is the operative word here. Many people may be doing many things, this does not mean they are stable or sustainable yet. How do you know if your streams of income sustainable? 

You don’t have to be present in those things all the time, they do not require all of your time. But when it is sustainable, it means other people run it for them, they only receive reports, or those ventures have an automated process that you only just oversee.

  1. You are also financially secure because your ventures or investments are well covered by insurance policies. 
  1. You no longer have to cut back on your lifestyle because of the financial implication of venturing into new things. 
  1. Due to your status, you stand a greater chance of living healthy. This is because you have the resources including the time and fund to maintain a healthy lifestyle. Of a truth, health is an integral aspect of wealth. 

These are major indications of this tier, and you are free to add yours. 

Now, if you have not attained this level, what do you do to get there?

The number one thing to do is to realize which tier of riches you are at the moment. Then acquire adequate financial literacy. 

Secondly, combine prudence with patience. Remember that the amount of money you make is not as important as how you manage it. 

I wish you the very best as you journey towards wealth

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